XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (19,115) $ (15,656)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 374 385
Stock-based compensation 2,895 3,018
Amortization of premium and discount on marketable securities (1,628) 110
ROU asset amortization 582 548
Gain on disposal of equipment 0 (70)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,662 64
Accounts payable (2,658) 5,588
Accrued expenses (3,863) (5,987)
Operating lease liability (591) (542)
Net cash used in operating activities (22,342) (12,542)
Cash flows from investing activities:    
Purchases of property and equipment (11) (131)
Purchases of marketable securities (92,964) (105,779)
Proceeds from sale or maturities of marketable securities 96,577 0
Proceeds from sale of equipment 0 176
Net cash provided by (used in) investing activities 3,602 (105,734)
Cash flows from financing activities:    
Proceeds from exercise of stock options 41 0
Proceeds from issuance of common stock (3,126) 0
Issuance costs from issuance of common stock (95) 0
Net cash provided by financing activities 3,072 0
Net change in cash and cash equivalents (15,668) (118,276)
Cash and cash equivalents at beginning of period 34,946 144,514
Cash and cash equivalents at end of period 19,278 26,238
Supplemental disclosure of cash flow information    
Unrealized loss on marketable securities (205) (512)
Purchase of securities included in accrued expenses 0 513
Fixed asset costs included in accounts payable $ 0 $ 77